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Warner Bros. Discovery, Inc. Stockholders Litigation

877-236-1413

This official website is maintained by the Settlement Administrator under the supervision of Plaintiffs’ Lead Counsel for the members of the Class in the Action entitled In re: Warner Bros. Discovery, Inc. Stockholders Litigation, Case No. 2022-1114-JTL pending in the Court of Chancery of the State of Delaware.
Order and Final Judgement

On October 10, 2024, the Court entered an Order and Final Judgment approving the Settlement. A copy of the Order and Judgment can be viewed on the Court Documents page. The Settlement Administrator is currently working with Plaintiffs’ Counsel and Defendants’ Counsel to identify Excluded Stockholders so that distribution can be made in accordance with the Court-approved Plan of Allocation. Once this process is complete, Plaintiffs’ Counsel will submit a motion with the Court for a Class Distribution Order. Please be aware that this process may take several months. For further updates, please continue to check this website.

Warner Bros. Discovery, Inc. Stockholders Litigation

All record holders and beneficial owners of Discovery, Inc. (“Discovery”) common stock as of the closing of the merger with AT&T Inc.’s (“AT&T”) WarnerMedia Business on April 8, 2022 (“Closing”) whose Discovery common stock was reclassified and converted into shares of Warner Bros. Discovery, Inc. (“WBD”) common stock upon Closing, including, as necessary for relief, the legal representatives, heirs, and assignees of all such foregoing holders and beneficial owners of Discovery common stock.

The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear ( “Notice”), which you can access by clicking here. Because this website is just a summary, you should review the Notice for additional details.

Notice of Pendency of Stockholder Class Action: Please be advised that your rights will be affected by the stockholder class action entitled In re: Warner Bros. Discovery, Inc. Stockholders Litigation, Case No. 2022-1114-JTL (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”) if you were a record or beneficial owner of Discovery common stock as of the closing of the merger with AT&T WarnerMedia Business on April 8, 2022 whose Discovery common stock was reclassified and converted into shares of WBD common stock upon the Closing.

Notice of Settlement: Please also be advised that (i) plaintiffs Bricklayers Pension Fund of Western Pennsylvania, City Pension Fund for Firefighters & Police Pension Officers in the City of Pembroke Pines, Key West Police and Firefighters’ Pension Fund, and Steve Silverman (collectively, “Plaintiffs”), on behalf of themselves and all other members of the Court-certified Class (defined below); and (ii) defendants Advance/Newhouse Partnership, Advance/Newhouse Programming Partnership, Robert Miron, Steven Miron, and Susan Swain (collectively, “Defendants”) (Plaintiffs and Defendants, together, the “Parties”) have reached a proposed settlement of the Action for $125,000,000 (One Hundred, Twenty-Five Million United States Dollars) in cash (the “Settlement”). The proposed Settlement, if approved by the Court, will resolve all claims in the Action.

If you are a member of the Class, you are subject to the Settlement. The Class certified by the Court consists of:
All record holders and beneficial owners of Discovery common stock as of the closing of the merger with AT&T’s WarnerMedia Business on April 8, 2022 whose Discovery common stock was reclassified and converted into shares of WBD common stock upon Closing, including, as necessary for relief, the legal representatives, heirs, and assignees of all such foregoing holders and beneficial owners of Discovery common stock (the “Class”).

Certain persons and entities are excluded from the Class by definition, as set forth in the Notice.

PLEASE READ THE NOTICE CAREFULLY. IF YOU ARE A CLASS MEMBER, YOUR RIGHTS WILL BE AFFECTED BY THE ACTION AND THE SETTLEMENT.

If you have questions, you may call the WBD Stockholders Litigation Help Line at 877-236-1413 or email info@WBDStockholdersLitigation.com

CLASS MEMBERS’ LEGAL RIGHTS IN THE SETTLEMENT
Description Due Date

Receive a payment from the settlement. Class Members DO NOT need to submit a claim form.

If you are a member of the Class, you may be eligible to receive a pro rata distribution from the Settlement proceeds. Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. If you are eligible for a distribution from the Settlement, it will be paid to you directly. See paragraphs 38-48 in the Notice for further discussion.

Object to the settlement by submitting a written objection so that it is RECEIVED no later than September 25, 2024.

If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs’ Counsel’s application for an award of attorneys’ fees and expenses, including Plaintiffs’ application for Incentive Awards, you may write to the Court and explain the reasons for your objection.

Attend a hearing on October 10, 2024, at 1:30 P.M., and file a notice of intention to appear so that it is RECEIVED no later than September 25, 2024.

Filing a written objection and notice of intention to appear that is received by September 25, 2024, allows you to speak in Court, at the discretion of the Court, about your objection. In the Court’s discretion, the October 10, 2024, hearing may be conducted by telephone or videoconference (see paragraphs 56-57 in the Notice). If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.